“The Rare Media investment is not a regular financial investment where we look to exit in a few years’ time. Given the 99acres link, we want Rare Media to be financially stable. We want to have influence on this company so that they can align their products with 99acres’ needs,” Bikhchandani said.

Founded in 2012 by Siddhartha Gupta, Delhi-based Rare Media’s field force tracking service, known as Blue Dolphin, is used for employee location tracking and timekeeping on 3G devices.

Info Edge, which also runs consumer internet properties such as Naukri, Jeevansathi and Shiksha, recently reported a 44 per cent drop in quarterly net profit, as earnings from its core recruitment solutions business under Naukri.com were outweighed by losses in 99acres.com property portal.

99acres competes with PropTiger, Housing.com and CommonFloor (now acquired by Quikr), besides other players. PropTiger is part-owned by News Corp, which acquired the parent of this news website last year.